PRINTER'S NO. 2498
No. 187 Session of 1990
INTRODUCED BY HOLL, JUBELIRER, SHAFFER, TILGHMAN, WILT,
ARMSTRONG, PUNT, CORMAN, BELAN, PECORA, RHOADES, BELL,
SHUMAKER, GREENLEAF, HELFRICK, HESS, LaVALLE, LYNCH, FISHER,
LEWIS, WENGER, STOUT, O'PAKE, SCANLON, STAPLETON, MELLOW,
DAWIDA, BAKER, STEWART, ROCKS, HOPPER, LEMMOND, REIBMAN,
GREENWOOD, FUMO, MADIGAN, SALVATORE AND BRIGHTBILL,
SEPTEMBER 25, 1990
REFERRED TO RULES AND EXECUTIVE NOMINATIONS, SEPTEMBER 25, 1990
A RESOLUTION
1 Declaring September 24 through 28, 1990, as "Community Banking
2 Week."
3 WHEREAS, For over 100 years independent community banks in
4 this Commonwealth have worked to provide for their local
5 communities the local support necessary to grow and prosper.
6 Local community banks have always put Pennsylvania first; and
7 WHEREAS, There are more than 200 locally-owned and operated
8 independent banks with more than 750 banking offices found in
9 small towns, rural areas, suburbs and cities throughout this
10 Commonwealth. Collectively, they boast more than $21 billion in
11 assets and have more than 73,000 shareholders and 2.73 million
12 account holders. Community banks are working citizens of their
13 communities in every sense of the word. More than 12,500 full-
14 time and 2,500 part-time employees work for Pennsylvania's
15 community banks; and
1 WHEREAS, Community banks also work for their communities as
2 an economic focal point where funds are "recycled." Community
3 banks know that when money stays in town, it becomes a renewable
4 resource, creating an economic cycle that constantly
5 recirculates and revitalizes the community. On average,
6 approximately 95 - 100% of the typical community bank's loan
7 portfolio is reinvested in the community, usually within 50
8 miles of a bank office, and almost entirely within
9 Pennsylvania's borders. The average community bank in
10 Pennsylvania has over 30% of its holdings in commercial loans
11 with local businesses and more than 50% in mortgage loans to
12 local homeowners; and
13 WHEREAS, Community banks understand that bigger is not always
14 better. Community banks focus on the prosperity of individuals
15 and small businesses in their hometowns, not investments made at
16 a far away headquarters where people do not share the same
17 vested interest in a local community's economic health. In fact,
18 Pennsylvania's community banks invest more than $6.6 billion in
19 residential and mortgage loans; more than $4.5 billion in
20 commercial loans; more than $352 million in agricultural loans;
21 and more than $191.5 million in student loans; therefore be it
22 RESOLVED, That the Senate hereby declare September 24 through
23 28, 1990, as "Community Banking Week" and laud community banks
24 across this Commonwealth for making Pennsylvania first in their
25 financial commitments, their dedication as working neighbors,
26 and above all, for serving as fiscally sound and reliable
27 sources of economic lifeblood in communities all across this
28 great Commonwealth.
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